Last year, Gibson Corporation reported after-tax Operating Cash Flow (OCF) of $45,500. The following information was also reported for the same period:

Beginning Ending

Accounts Receivable $35,230 $38,240

Inventory $58,440 $58,550

Accounts Payable $68,150 $69,230

Based on this information, what was Gibson’s cash flow? (Assuming zero depreciation expenses and zero capital spending)

a) $43,460

b) $44,510

c) $45,330

d) $46,120

e) $47,800